6,400 Shares in Waste Management, Inc. $WM Acquired by Lynch Asset Management Inc.

Lynch Asset Management Inc. purchased a new stake in Waste Management, Inc. (NYSE:WM) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 6,400 shares of the business services provider’s stock, valued at approximately $1,471,000.

Other institutional investors have also modified their holdings of the company. Broadway Wealth Solutions Inc. raised its stake in shares of Waste Management by 2.8% in the fourth quarter. Broadway Wealth Solutions Inc. now owns 1,588 shares of the business services provider’s stock valued at $349,000 after acquiring an additional 44 shares in the last quarter. Bey Douglas LLC grew its stake in Waste Management by 3.7% during the 4th quarter. Bey Douglas LLC now owns 1,233 shares of the business services provider’s stock worth $271,000 after purchasing an additional 44 shares in the last quarter. San Luis Wealth Advisors LLC increased its holdings in Waste Management by 2.4% during the 4th quarter. San Luis Wealth Advisors LLC now owns 1,922 shares of the business services provider’s stock worth $422,000 after purchasing an additional 45 shares during the period. Birch Hill Investment Advisors LLC raised its position in Waste Management by 0.7% in the 4th quarter. Birch Hill Investment Advisors LLC now owns 6,104 shares of the business services provider’s stock valued at $1,341,000 after purchasing an additional 45 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its stake in shares of Waste Management by 1.9% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 2,398 shares of the business services provider’s stock valued at $527,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 80.40% of the company’s stock.

Analysts Set New Price Targets

WM has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on Waste Management from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. Wells Fargo & Company decreased their price target on shares of Waste Management from $273.00 to $268.00 and set an “overweight” rating for the company in a research note on Thursday, April 30th. Robert W. Baird increased their price objective on shares of Waste Management from $248.00 to $260.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. TD Cowen raised their price objective on shares of Waste Management from $270.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Barclays lifted their price objective on shares of Waste Management from $266.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $255.30.

Waste Management Trading Up 0.6%

Shares of Waste Management stock opened at $224.31 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 2.22. The company has a fifty day simple moving average of $220.16 and a 200-day simple moving average of $225.28. The stock has a market cap of $90.08 billion, a price-to-earnings ratio of 32.46, a PEG ratio of 2.33 and a beta of 0.44. Waste Management, Inc. has a 12-month low of $194.11 and a 12-month high of $248.13.

Waste Management (NYSE:WM) last announced its quarterly earnings results on Tuesday, April 28th. The business services provider reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.75 by $0.06. Waste Management had a net margin of 10.99% and a return on equity of 31.90%. The firm had revenue of $6.23 billion during the quarter, compared to analysts’ expectations of $6.28 billion. During the same period in the previous year, the company earned $1.67 earnings per share. Waste Management’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts forecast that Waste Management, Inc. will post 8.15 EPS for the current fiscal year.

Waste Management Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 18th. Stockholders of record on Friday, June 5th were issued a $0.945 dividend. This represents a $3.78 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, June 5th. Waste Management’s payout ratio is presently 54.70%.

Waste Management Company Profile

Waste Management, Inc (NYSE: WM) is a leading provider of integrated waste management and environmental services in North America. The company offers end-to-end solutions that span collection, transfer, disposal and recycling, along with landfill operations and related infrastructure. Headquartered in Houston, Texas, Waste Management serves a broad customer base that includes residential, commercial, industrial and municipal clients.

Core services include curbside and commercial waste collection, roll-off and temporary container services, materials recovery and recycling, and engineered landfill disposal.